Conflict of Interest re Surveyor

E

ezuskin

Member
Joined
Nov 18, 2003
RO Number
12479
Messages
78
I was turned down for insurance by Boat US for 2 main issues with the survey. The primary reason they gave was that the certified surveyor I used was also the owner of a marine related repair business. They consider this a conflict of interest. The other issue with the boat itself was a stringer that needs to be replaced and the entire boat resurveyed by a different surveyor.
Do I need a different insurance company. The surveyor told me they might put some resurvey clauses for full coverage related to a stringer issue and that he would cut me a large break to sign off on properly repaired items.
Anyone heard of this situation?
Eddie
 
Eddie,
Boat/US is correct on both issues. It is definateley a conflict of interest for a surveyor to do repairs, espescially on boats that he has surveyed, and replacing a stringer is very important to the structural integrety of the boat. It is quite normal for them to ask for a second opinion after the stringer work has been done, to make sure the boat is a good risk for underwriting.
I suspect that the surveyor is looking to make a quick buck by signing off on the repairs, when it hasn't actually been done. I'm not sure if he is, but if he is it is highly unethical.
You can try to go to a different insurance company but that won't fix your rotten stringer...you really should get it fixed, it's the backbone of the boat.
That's my 2 cents,
Brian
 
Make sure you get the next survey by a "pre approved" surveyor for Boat US insurance. They have a list of of surveyors they recommend. Gpod luck.
 
While I am not giving any advice regarding the stringer issue as, I believe, it is next to impossible for you to describe it in such a way as to render an accurate opinion, definitely submit a request for insurance to multiple insurance agencies/companies.

Obviously, don't lie, but just submit your application to see where the pricing lies. You may be surprised.

It is (or was) my understanding that the Boat US list of approved surveyors is (was) dependent on the fact that each surveyor must pay a fee for such inclusion. At least, it was, according to a local marine surveyor, the way the list was published a number of years ago.
 
Perhaps I was not clear. When the survey was done the surveyor believed that he would be required to sign off on certain items after they were repaired, especially the stringer. Nothing unethical was offered merely a reasonable price to recheck after the repair was completed and submit it to the insurance company. How is it that he has done numerous surveys for Boat US customers and, all of a sudden, they decided it is a problem that he was also in the marine repair business. He is not doing any work on the boat. Of course I am going to repair the stringer. The only reason I agreed to buy the boat with a rotten stringer is that it is the furthest port stringer that is completely accesible without tearing things up. I traced it to under the dinette and it ends under the dinette as it goes under the sink cabinet, 12-14' long.
Eddie
 
quote:
Originally posted by ezuskin

Click to expand...


Boat US as does other insurance companies reads each and every survey. The largest surveying organization actually has the largest number of rejected surveys by insurance companies. Being on their "list" only means they have agreed to do discount work for the insurance company. It makes me wonder if any surveyor who works for the insurance company is in an ethical conflict when doing work for you. The insurance company absolutely correct in my opinion. Surveyors are in conflict if they do anything else in the industry. We even have some surveyors who are brokers in this industry. Surveyors who are principles (unlisted) in broker businesses. Its tough for the buyer/owner to know who to use. As for the insurance company. They may know something you don't. and may actually be protecting your interest... I personally have re-surveyed vessels that were rejected by boatUS for surveys done by one of the "listed" ones. I also have never been listed as one of the "chosen ones".. But then again I have never had a survey rejected by an insurance company.. Read the disclaimer on the list they provide... Fred
 
You must log in or register to reply here.
Back
Top